Famines in sub-Saharan Africa:
A. are solely the result of unalterable weather conditions.
B. have become less common in recent decades.
C. are the result of drought, civil strife, large populations, and inappropriate public policies.
D. are solely the result of government policies that overprice agricultural products.
C. are the result of drought, civil strife, large populations, and inappropriate public policies.
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Economists refer a to a market where buying and selling take place at prices that violate government price regulations as
A) a noncompetitive market. B) an outlaw market. C) a black market. D) a restricted market.
When government intervenes in the production process because external costs exist, it typically attempts to shift the industry's
A) demand curve to the right. B) demand curve to the left. C) supply curve to the right. D) supply curve to the left.